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The government is eyeing importing a total of six spot liquefied natural gas (LNG) cargoes in May, the highest number in a single month, to meet mounting summer demand.
State-run Rupantarita Prakritik Gas Company Ltd (RPGCL) already bought five spot LNG cargoes for May delivery windows, a senior RPGCL official told The Financial Express on Saturday.
He said the RPGCL’s tender to buy one more spot LNG cargo in the May 30-31 delivery window is also open, along with two more spot LNG cargo tenders for the June 26-27 and July 2-3 delivery windows.
The country’s energy demand has gone up since early April with the advent of summer, which is expected to grow further with the rise of mercury.
Bangladesh bought four spot LNG cargoes for the deliveries in the past two months – March and April.
The bid winners will deliver the LNG cargoes at Moheshkhali Island in the Bay of Bengal, with options to discharge the cargo at either of the country’s two floating storage regasification units (FSRUs) located on Moheshkhali Island.
The RPGCL, a wholly owned subsidiary of state-run Bangladesh Oil, Gas, and Mineral Corporation, or Petrobangla, looks into LNG trades in Bangladesh.
The volume of each of the spot LNG cargoes will also be around 3.36 million British thermal units (MMBtu).
Bangladesh previously awarded its latest spot LNG cargo to Gunvor Singapore Pte Ltd. for the May 25-26 delivery window at $11.83 per MMBtu.
Bangladesh currently imports LNG from Qatar Energy and OQ Trading International under long-term deals and purchases LNG also from the spot market to re-gasify LNG in its two operational FSRUs, having a total capacity of 1.10 billion cubic feet per day (Bcfd).
The country has been reeling from an acute energy crisis as its natural gas output is depleting.
Bangladesh has been rationing gas supply to industries, power plants and other gas-guzzling industries to cope with the mounting demand.
azizjst@yahoo.com